Micron Technology stock slides 6.7% as AI outlook meets volatility

Micron Technology reported record fiscal 2026 results on September 30, but its stock faced renewed volatility on Friday, October 30. The company expects another record year as artificial intelligence demand supports memory and storage sales, according to the Micron investor release.

Micron Technology stock traded at 787.05 euros on Lang & Schwarz at 12:01 CEST on Friday, October 30, 6.73 percent below the Xetra close of Thursday, October 29. The comparison uses the Xetra close of 843.80 euros from the MTE.DE quotation.

Record Results Raise The Bar

Fiscal fourth-quarter revenue reached USD 54.23 billion, up from USD 41.46 billion in the prior quarter and USD 11.32 billion a year earlier. GAAP net income rose to USD 37.70 billion, while diluted earnings reached USD 32.87 per share. Non-GAAP net income was USD 38.40 billion, or USD 33.42 per diluted share.

For the full fiscal year, revenue climbed to USD 133.19 billion from USD 37.38 billion. GAAP net income reached USD 84.97 billion, compared with USD 8.54 billion a year earlier. The release also showed operating cash flow of USD 89.68 billion for fiscal 2026, up from USD 17.53 billion.

The strongest quarterly growth came from the Core Data Center Business Unit, where revenue reached USD 18.00 billion versus USD 11.52 billion in the prior quarter. Its gross margin rose to 90 percent from 87 percent. Cloud Memory revenue increased to USD 16.28 billion from USD 13.77 billion, while Mobile and Client revenue rose to USD 13.11 billion from USD 11.52 billion.

Fiscal 2027 Starts With Strong Guidance

Micron guided fiscal first-quarter 2027 revenue to USD 61.5 billion, plus or minus USD 1.5 billion. Non-GAAP diluted earnings are expected at USD 38.15 per share, plus or minus USD 1.00, with a non-GAAP gross margin of approximately 86.25 percent. The company expects adjusted operating expenses of approximately USD 2.06 billion.

Chief Executive Sanjay Mehrotra said AI is increasing the importance of memory in customer platforms and that Strategic Customer Agreements add confidence to future financial performance. Micron is increasing investment in technology, products and manufacturing to support that demand.

The guidance sets a high hurdle for execution. Micron expects gross margin to remain strong, but fiscal 2027 spending will rise as the company expands manufacturing capacity and research and development. Investors must therefore weigh stronger pricing and demand against capital intensity and the cyclical nature of memory markets.

Micron also declared a quarterly dividend of USD 0.15 per share, payable on October 29 to shareholders of record on October 14. The company ended fiscal 2026 with USD 73.48 billion in cash, marketable investments and restricted cash.

For investors seeking the latest quote, the real-time quote of Micron Technology stock is available separately.

The broader S&P 500 market environment remains relevant for semiconductor valuations and risk appetite.

Micron's next major test is its fiscal first-quarter report, expected in mid-December, when investors can compare results with the USD 61.5 billion revenue outlook. More news and analyses on Micron Technology stock will follow.